 Hi, good morning and welcome to today's products and focus so overnight we had some more data come out of China Which is a slight disappointment when I was looking like they might be doing More capital ratio changes and more rate cuts in China So even though the data came out a little bit below expectations We have seen some of the Chinese equity markets actually tick up on the back of that You've seen the Australia 200 and some of the Hong Kong market also go up So bad news is good news at this adage So the US theory actually down from its session highs yesterday To move into positive territory this morning most equity markets are at the top end of their range already But this is looking a little bit like it could be turning into a very very steep Symmetrical triangle formation, which means we might get a breakout at one direction or the other It's still forming right now. It's not worth adding it on there But certainly you've got these highs here and then you've got these higher lows and then lower highs right here So we'll see how things pan out later on today We're still waiting for a bullish crossover in the MACD, which is yet to materialize So that's the US theory moving on to the UK 100 very similar pattern potentially forming here with 60 73 Still being a potential support similar MACD. So we've not quite got the crossover as of yet And if you have a look at the economic data, there's not a huge amount else left to come out apart from at 10 a.m. Today. We've got Eurozone GDP Now the password on the Wednesday is actually very very little on Wednesday It's not until you get into Thursday You got more Chinese data you got CPI Bank of England NPC minutes and straight announcement for the UK Which will remain the same and employment data then followed by our non-farm perils and non-farm perils are our weekly petroleum data Which is actually coming out on Thursday at the moment. So moving on to Japan 225 It's actually off slightly as that kind of Import figure that China came out with have you just have a look here that import figure came in really bad And we just go on to Tuesday right there You can be able to see where we were It was expected to be minus 8% came in at minus 13.8% and obviously China and Japan are Begging in there together. So that's why we've seen quite a strong sell-off in Japan 2 to 5 The dollar yen's actually had a bit of a bounce this morning Jumping from 119 all the way up to 185. So that's kind of interesting But does look that 17496 is going to be the potential support level to be aware of on Japan 2 to 5 So looking at a dollar yen Bouncing nicely there of 119 and did it yesterday did it again this so far this morning Started the dollars be all over the shop to be honest So the dollars actually advancing against The Japanese yen, but if we will be looking at the other FX pairs in a minute But I can already see on my other screen that GBP with the annual dollar. I've had a bouncing up as a direction So dollar has gained versus the end, but then has lost versus the sterling and the euro Which completely opposite picture to what we saw yesterday crude oil dropping 3% again yesterday Same usual stuff global slowdown Oil production fears as in oversupply You've got 43 30 and then run about 42 dollars be the next potential support I'm just gonna get rid of that one. You probably looking around about 42 dollars has been the next potential support level And 45 85 being potential resistance Looking at gold gold's done nothing yesterday Getting we've got We should be having a golden cross in the moving averages. It should be bullish But it's not adding that much extra momentum. I'll just go to yesterday You know it's still about on the 17th of September. We've got the FOMC session and Some traders still thinking that after Friday's non-farm payrolls figure kind of coming in below expectations that there's a lot Of big questions and kind of freshed out over the prospect of raising rates in September or not There's a lot of arguments to have it. There's a lot of arguments not to have it Obviously the state-of-the-world economy is a big one at the moment But with China no longer being able to beat the kind of global shock absorber that it once was The US still want to have an option to To cut at some point in the future. So they're looking to try and raise rates sooner rather than later And just to have that initial lift off and I think the markets are kind of pricing in that that potential eventuality But there's still a number of traders who are positioning themselves. That's not the case If you're looking at something like gold right now gold is giving you Indications that they are expecting that there'll be something coming in September That's why gold is continuing to drop off ever since we had that 24th of August Stock crash over in China We had the initial massive spike in gold is everything well I'm never gonna never gonna raise rates now and that's just been slowly dropping every single session pretty much To the point where we are just now. So not a great formation almost like a kind of a hidden shoulders formation We've got a neck and that you got shoulder the neck and then the other shoulder And normally when you got a break of this neckline, which would be right about right here That should be indicative that there could be a technical break lower than where we are right now So moving on to euro dollar and GBP USD so euro dollar off the session highs Bouncing off that 21 period SMA once by 11 still being the potential support which also coincides with that 55 period SMA But this is already looking like a little bit of an ugly candle, but the fact that it's quite far off the session highs It's just selling off as we speak actually So still in positive territory, but only just and then if we finish up with GBP USD Sterling had a decent rally yesterday It's followed through with another decent start to the day already But but we are away from the session those one spot 54 24 is the next potential Resistance level to be aware of for GBP USD. I can see that slow stochastic has been quite oversold up until this point We've not yet broken above that 20% level So the technical signal from the slow stochastic to Provide bullish momentum has yet to come But we've already had two decent day candles So that was a bullish engulfing pattern that we had there yesterday Be interested to see a things pan out today for the sterling So that gives you a bit of an idea where we are Nothing really exciting macro data wise until Thursday for this whole host of data Make sure you keep your eye on the chart form and make insights popular going forward and join us again tomorrow to find out what happened next